DECK vs FNGD: Correlation
How closely do Deckers Brands (DECK) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DECK and FNGD?
On 3 years of weekly data the DECK/FNGD correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.32 over 3 years. The 5-year figure is -0.36, and annualized covariance runs at -1057.6 %².
Among the 31 assets we track against DECK, FNGD sits near the bottom by co-movement, at rank #29. Their recent paths diverged sharply: over the last 12 months DECK outperformed by 29.7 percentage points (-26.0% for DECK against -55.7% for FNGD). Note the risk asymmetry: FNGD runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
DECK vs FNGD: side by side
| DECK (Deckers Brands) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -26.0% | -55.7% |
| 5-year return | +22.8% | -99.4% |
| Volatility (ann.) | 43.6% | 75.7% |
| Beta vs S&P 500 | 1.20 | -4.54 |
| Max drawdown (3Y) | -64.3% | -97.6% |
| Market cap | $11.8B | – |
| P/E (trailing) | 12.7 | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | DECK | FNGD |
|---|---|---|
| 2022 | +9.0% | +52.2% |
| 2023 | +67.5% | -90.1% |
| 2024 | +82.3% | -76.6% |
| 2025 | -49.0% | -61.4% |
| 2026 | -16.7% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DECK and FNGD good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DECK and FNGD?
As of 2026-08-27, the correlation of weekly returns between DECK and FNGD is -0.32 over 3 years, -0.20 over 1 year and -0.36 over 5 years.
Is FNGD a good diversifier for DECK?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: DECK correlations · FNGD correlations
